(News Bulletin 247) – Eurobio Scientific jumped to the Paris Stock Exchange on Tuesday after announcing the continuation of its international development with the acquisition of DID in Italy, Europe’s third largest diagnostics market.
Around 10:00 a.m., the title of the specialist in vitro diagnostics of specialties rose by more than 6% and signed one of the strongest increases on the Parisian market.
In a press release, the Parisian group indicates that it has reached an agreement to acquire 100% of the capital of Diagnostic International Distribution SPA (DID), a company specializing in the distribution of in vitro diagnostic tests throughout Italy.
DID currently markets specific products from the Eurobio Scientific group by distributing the EurobioPlex range of PCR tests for infectious diseases.
In 2022, DID generated revenue of 26.8 million euros.
The cash acquisition – for an undisclosed amount – is expected to be completed within approximately 45 days.
With a population of approximately 60 million inhabitants, Italy represents the third European market for in vitro diagnostics, after Germany and France, with a volume of approximately 1.9 billion euros per year made from hospital and private laboratories.
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